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Aug 20, 2013
08/13
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let the battle begin in detroit. unions are challenging the motor city's bankruptcy filing and cash-strapped cities around the country you can bet are paying close attention. that's next. nicole: we have to check currencies. here is how the u.s. dollar is moving at the moment. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pai it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immedi
let the battle begin in detroit. unions are challenging the motor city's bankruptcy filing and cash-strapped cities around the country you can bet are paying close attention. that's next. nicole: we have to check currencies. here is how the u.s. dollar is moving at the moment. right now, 7 years of music is being streamed. a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less...
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dagen: i am a daily reader of the detroit free press. it was last week you ran article about some of the things that were bothersome like car loans, the terms are getting longer. why is that disturbing? why should we be concerned about that? >> a couple things to keep an eye on to make sure they don't get out of whack and one of the ms. this 72 month, six your car loan accounted for 30% of sales in july. that is a long time supporting higher sales prices for cars. the average car costss$28,000. that is good but if people are stuck in loans that are so long that the car's worth less than they owe that is a problem. dagen: one last thing. how do people in default if the elected a bankruptcy filing? talking about how great car sales are but how are the folks doing? >> it is a mixed picture. there is nervousness, there is a feeling that a lot of this had to happen, it was inevitable and the future is better but how we get from here to the future is an uncharted road. dagen: thanks for being here, you're welcome back anytime, taught cars all
dagen: i am a daily reader of the detroit free press. it was last week you ran article about some of the things that were bothersome like car loans, the terms are getting longer. why is that disturbing? why should we be concerned about that? >> a couple things to keep an eye on to make sure they don't get out of whack and one of the ms. this 72 month, six your car loan accounted for 30% of sales in july. that is a long time supporting higher sales prices for cars. the average car...
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Aug 27, 2013
08/13
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. >>> in detroit a federal judge moved up the a hearing on the city's eligibility for bankruptcy. instead of october 23rd, egin on september 18 to determine whether detroit is insolvent and if the city negotiated in good faith with its creditors. >>> texas is home to four out of top five cities for u.s. business. baltimore was fourth and hughes to infifth. rankings are based on growth rates, local taxes and regulations. >>> that's the latest from the fox business network, giving you the power to prosper. lori: who wants to intentionally step on broken glass when you go to the beach? well some florida beach communities are actually talking about putting it in the sand. joining me now from miami beach is fox's phil keating. hi, phil. >> hi, there. down here in florida, sand is is like gold. it draws millions of tourists every year which contributes $70 billion to the state's economy. believe it or not because of erosion constant along the coastline, you can see it with the three or four foot drop down to the surf over decades, miami-dade and broward counties dredging offshore suppli
. >>> in detroit a federal judge moved up the a hearing on the city's eligibility for bankruptcy. instead of october 23rd, egin on september 18 to determine whether detroit is insolvent and if the city negotiated in good faith with its creditors. >>> texas is home to four out of top five cities for u.s. business. baltimore was fourth and hughes to infifth. rankings are based on growth rates, local taxes and regulations. >>> that's the latest from the fox business...
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is but their pension obligations are, their pension system is in worse shape than detroit's, detroit's system is considered an argument how well funded it is but they have four pension systems in chicago, one of them is only 25% funded and the other one is only 38% funded. lori: may be funded through property taxes. no one will raise property taxes. >> interesting you say that. former chief financial officer of chicago did an estimate, in order to pay the bill they would have to raise property taxes 50% to 100%. lori: who is going to vote for that? >> the illinois constitution says you have to pay the pensions so here you have the immovable object and irresistible force. >> any other sources? >> no matter where the money comes from is coming from taxpayers, not the state of illinois. they are a fiscal mess. they don't have enough money to put in their pension system. they have been borrowing billions every year and i can't think of another state with a fiscal problem that the level they do so is not from illinois. lori: is in a domino situation? we watched detroit and now chicago, woul
is but their pension obligations are, their pension system is in worse shape than detroit's, detroit's system is considered an argument how well funded it is but they have four pension systems in chicago, one of them is only 25% funded and the other one is only 38% funded. lori: may be funded through property taxes. no one will raise property taxes. >> interesting you say that. former chief financial officer of chicago did an estimate, in order to pay the bill they would have to raise...
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chicago and detroit? i spent time in both places, anybody who have been to those places say chicago's nothing like detroit, and look at the reasons that it actually doesn't make sense they would be on the same path. chicago, different city than detroit in that there's a strong tax base, a growing population. detroit's population, you know, famously has slunk dramatically. there's companies moving into town, boeing recently relocated its corporate headquarters here, and it's also a multiindustry city, not like detroit with a single industry that drives the town, but here's how they are the same. pensions, it comes down to pensions. municipal pensions. chicago has four pension funds, short about $20 billion. they got a budget deficit of about three-quarters of a million dollars. moody's downgrade the the city, and it's not going to get better as time goes on. in 2015, a new state law requires even more to be put into the pension funds, and that could cause property tax increase of maybe a hundred to 150%. a
chicago and detroit? i spent time in both places, anybody who have been to those places say chicago's nothing like detroit, and look at the reasons that it actually doesn't make sense they would be on the same path. chicago, different city than detroit in that there's a strong tax base, a growing population. detroit's population, you know, famously has slunk dramatically. there's companies moving into town, boeing recently relocated its corporate headquarters here, and it's also a multiindustry...
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Aug 19, 2013
08/13
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. >> most investors in the market viewed detroit as a 1-off. very unique circumstances. to your point there will be a likely protracted debate or legal battle about what they have to pay back the law will end up happening see the general obligation bondholders. at think if you look at the market more generally that news has weighed on the market along with higher interest rates. they have not done very well of recent fight. they may be challenged over the next couple of weeks due to seasonal. september is never a good month historically. coming out of that we feel like investors will come back. it is a place where you can still get yield. you generally have high quality investment. it still plays a very strong role in the muslim portfolio. ashley: an investor who is looking for yield that does not want that exposed to much risks to the increasing interest rates, what is my best ploy? >> it depends upon how you think about fixed-income in your portfolio. we have a lot of investors who have felt traditional, cork, fixed-income portfolios and thin
. >> most investors in the market viewed detroit as a 1-off. very unique circumstances. to your point there will be a likely protracted debate or legal battle about what they have to pay back the law will end up happening see the general obligation bondholders. at think if you look at the market more generally that news has weighed on the market along with higher interest rates. they have not done very well of recent fight. they may be challenged over the next couple of weeks due to...
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ashley: detroit is trying to track its bankruptcy. we'll tell you what it could mean for creditors and retirees. but first, as we do this time of day let's take a look how oil is trading. essentially flat, a little lower, down 21 cents at $1906.74 a barrel. we'll be right back. -- $106.79 a barrel. [ male announcer ] how do you get your bounce? with the bounce dryer bar, my clothes will be fresh out of the drawer for weeks. and it's great when things last a long time. well...most things. [ male announcer ] how do you get your bounce? [ woman ] can't regret fresh. tracy: that time of day charles payne looking a oil in new guinea? >> papua, new guinea. this one is a little bit tough. everyone loves the oil and gas story, particularly natural gas. we love it. tracy: yeah. >> we understand it. papua, new guinea? tracy: a fair amount of people would have to leak on a map to figure out where new guinea is. ashley: to start. >> from a political point of view they have had issues. late last year they put the former prime minister on the board
ashley: detroit is trying to track its bankruptcy. we'll tell you what it could mean for creditors and retirees. but first, as we do this time of day let's take a look how oil is trading. essentially flat, a little lower, down 21 cents at $1906.74 a barrel. we'll be right back. -- $106.79 a barrel. [ male announcer ] how do you get your bounce? with the bounce dryer bar, my clothes will be fresh out of the drawer for weeks. and it's great when things last a long time. well...most things. [ male...
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Aug 16, 2013
08/13
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there's one thing he says is keeping this country from becoming like detroit. what is the? we will tell you. connell: before we get to that, here are some of their winners today in the market on the s&p 500. ♪ connell: at the half hour, here is what we still have coming up for you. wayne rogers is here. we will get to wayne. then we take you behind the scenes on casting on hbo. then we take you to the country's premier auto auction. a ferrari backend apparently fetch close to $7 million. cheryl: it is for an auger before me. connell: i do not think i needed that comparison. dagen: yes, i am into cars. nicole: that is all they needed. this one is pertaining to the nsa leaker who is over there a broad. snowed and worked from 2009 until earlier this year. they are not talking about this. in the meantime, we have karl icahn in court. the story is so intertwined. dagen: detroit's fiscal crisis. it is just the beginning. potentially facing similar circumstances. there is one difference between us and the city. what is it? connell: wayne rogers is here to tell us, i hope. >> the
there's one thing he says is keeping this country from becoming like detroit. what is the? we will tell you. connell: before we get to that, here are some of their winners today in the market on the s&p 500. ♪ connell: at the half hour, here is what we still have coming up for you. wayne rogers is here. we will get to wayne. then we take you behind the scenes on casting on hbo. then we take you to the country's premier auto auction. a ferrari backend apparently fetch close to $7 million....
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Aug 27, 2013
08/13
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now in detroit, a federal judge has moved up a hearing on the cities eligibility for bankruptcy. the top five for small businesses. said, san antonio and dallas. baltimore and houston came in next. that is the latest from fox business network. giving you the power to prosper. ♪ connell: jack lew saying our nation will hit the debt limit in late october. to d.c. now and rich edson. >> neither have an opening offer. they refuse to negotiate. that glue claims based on our latest estimates, extraordinary measures are expected to be exhausted. failure means irreparable harm to the economy. one analyst agrees. >> we still will have a very nasty situation where people do not trust us anymore and they want more money. >> the u.s. can expect a severe amount of confidence. while lawmakers return to washington in the next few weeks to figure this out, congress may have more time than he is claiming. officials said they would have only 50 billion in cash, but treasury ran a surplus last september which traditionally is a huge thing. connell: thank you. a great rapport. rich raised a number
now in detroit, a federal judge has moved up a hearing on the cities eligibility for bankruptcy. the top five for small businesses. said, san antonio and dallas. baltimore and houston came in next. that is the latest from fox business network. giving you the power to prosper. ♪ connell: jack lew saying our nation will hit the debt limit in late october. to d.c. now and rich edson. >> neither have an opening offer. they refuse to negotiate. that glue claims based on our latest estimates,...
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Aug 12, 2013
08/13
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ashley: detroit to beijing, two thundershowers flat. new technology could make the world much smaller. we're life in a fox business exclusive. like l.a. to new york in 40 minutes. >>> breaking news on the monthly budget deficit. let's get straight to it and go to peter barnes in washington. peter? >> hey, ashley, deficit was $90 billion in july. 40% increase from the $70 billion deficit reported in july of 2012, but, for the fiscal year-to-date, the deficit is actually down by about that amount. it clocked in for the first 10 months of the fiscal year-ending july at $607 billion. that compares to $974 billion for the deficit for the same period last year. and, of course, this improvement in the deficit, is due to those higher tax increases that kicked in january 1st. higher payroll taxes as well as higher taxes on the wealthier earners. and lower spending here in washington caused by those sequester spending cuts. we have two more months left in the fiscal year and two more months in that fight before the next round of, the next round i
ashley: detroit to beijing, two thundershowers flat. new technology could make the world much smaller. we're life in a fox business exclusive. like l.a. to new york in 40 minutes. >>> breaking news on the monthly budget deficit. let's get straight to it and go to peter barnes in washington. peter? >> hey, ashley, deficit was $90 billion in july. 40% increase from the $70 billion deficit reported in july of 2012, but, for the fiscal year-to-date, the deficit is actually down by...